11:38 PM,
Mar. 19, 2013

Written by

Michael Cass
| The Tennessean

Metro government will be able to issue more than $1 billion in debt to finance building and infrastructure projects after the Metro Council signed off on three resolutions Tuesday.

The council had already approved the construction projects. Tuesday's votes - each by a 29-4 count - will allow the city to retire short-term debt on some of the projects and initiate long-term financing for others.

The first vote authorized issuance of up to $405 million in general obligation bonds, which are paid off with property taxes. Those funds will retire $250 million in "commercial paper" - a short-term ...